Coursera has announced that it has closed $64 million in a Series D funding round, taking the company’s total capital raised to date to $210.3 million.
The company says that it will use the latest round to fund efforts in its fast-growing enterprise business (Coursera for Business), to expand its master’s degree portfolio, and to accelerate product innovations.
The majority of the investment in the current round came from the company’s existing investors—GSV Asset Management, New Enterprise Associates (NEA), Kleiner Perkins Caufield Byers (KPCB) and Learn Capital. The Lampert Foundation has also participated as a new investor.
Commenting on this, Rick Levin, Coursera’s CEO, said,
As the industry leader in online higher education, we have a massive opportunity ahead of us in preparing people, companies, and governments to respond to the changing nature of jobs and to take on the urgent challenges of workforce transformation.
This round of funding enables us to continue innovating across our platform to deliver better learner outcomes, and to accelerate the momentum we have in our new initiatives — enterprise and degrees.
Michael Moe, Founder and CEO of GSV Asset Management, said,
We are excited to see Coursera emerge as the world’s learning platform, with a highly engaged global learner base and educational content from leading universities and top companies. In a global marketplace and knowledge-based economy, education makes the difference not only for how well an individual does, but for companies, and for that matter, countries.
Coursera recently launched Coursera for Business—a platform to help companies manage workforce transformation at scale. It says that within a short span, the company has managed to get more than 50 companies on-board from around the world, including BCG, BNY Mellon, L’Oreal, Paypal, and Air France KLM.
In January of this year, Coursera also launched Coursera for Governments & Nonprofits, joining forces with government and local institutions to prepare their communities for the jobs of the future. These partnerships have quickly scaled to cover efforts in a number of countries, such as the US, Pakistan, Egypt, Malaysia, and Singapore.
In addition to over 2,000 courses and 180 Specializations, Coursera has also begun offering fully-accredited online master’s degrees in order to serve the full spectrum of educational needs.
Within five years of its founding, Coursera has emerged as the world’s largest online platform for higher education with more than 26 million learners, 150 university partners, and 2000+ courses.
With deep catalog of courses, innovations like micro-credentials, and machine learning-powered skills and content matching systems, Coursera is hoping to equip more people around the world with the skills they need to close gaps in high-demand fields like data science, computer science, and business.